Xceedance, a global provider of technology-driven business solutions for the insurance industry, has received a growth investment from Portage Capital Solutions, an investor focused on financial technology.
With this latest investment, which gives Portage a minority equity stake, Xceedance’s total raised capital, across equity and debt, stands at approximately $100 million.
The capital will be used to fuel Xceedance’s expanding portfolio of AI-enabled solutions and fund the accretive acquisition of insurance-focused service providers.
Arun Balakrishnan, Founder and CEO of Xceedance, said: “Since inception, Xceedance has enjoyed exceptional, bootstrapped growth, scaling rapidly through profit reinvestment and the prudent use of debt.
“This investment not only strengthens our capital base but also connects us to Portage’s exceptional ecosystem in the insurance, technology and broader financial services markets, unlocking meaningful synergies that will help accelerate our growth. In Portage, we have found an investor aligned with our long-term vision, cultural values, and commitment to innovation.”
Fueled by a deep understanding of complex insurance ecosystems, Xceedance has grown into a global leader by leveraging generative artificial intelligence (AI) and domain expertise to transform insurance operations.
The company now serves over 350 clients across more that 1,000 P&C workflows. By developing its TPA platform and making strategic acquisitions like Millenium Information Services and CIS Claim Services, Xceedance continues to enhance its suite of offerings and strengthen its global position.
“Xceedance has established itself as a best-in-class partner to both small, innovative insurers as well as some of the largest, most trusted names in the industry. With the rapid adoption of digital solutions across the market, Xceedance is poised for continued growth and expanded opportunities as a recognized thought leader to its clients and partners,” said Dan Ballen, General Partner & Co-Head of Portage Capital Solutions.
Adding: “We’re thrilled to be partnering with Arun and the full Xceedance team on the next stage of their growth and look forward to helping them execute on their ambitious long-term vision.”
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